SPR Borrowers Owe Uncle Sam 40 Million Extra Barrels

The US Strategic Petroleum Reserve has taken a beating during the Iran war, but Energy Secretary Chris Wright says the government's emergency oil stash is headed for a surprisingly lucrative refill. Companies that borrowed crude from the SPR during the conflict will return those barrels with premiums attached, leaving the reserve about 40 million barrels larger than it would have been otherwise once the war ends, Wright said Friday. For an oil market accustomed to hearing about SPR drawdowns, emergency releases, and politically motivated sales,…